European investment fund Marguerite has acquired Swedish data center firm Conapto.
Marguerite II has bought 100 percent of Conapto AB from Segulah Fund V. Terms were not disclosed.
Conapto was launched in 2018 following the acquisition of Sungard Availability Services’ Swedish operations by Segulah Fund V. The company operates two data centers and a backup site in the Stockholm region.
“Conapto has developed into a leading colocation provider in the Swedish market, and, it has become a reference for delivering superior value to its customers”, said Michael Dedieu, managing partner at Marguerite. “We are delighted to acquire Conapto and look forward to working with Håkan Björklund and the rest of the management team to continue to provide best in class service to the customers and accelerate the growth of the company.”
Marguerite said the management team, led by CEO Håkan Björklund, will remain in place and “reinvest in the company.”
The company has also announced work has started on a 2MW expansion to its Stockholm North data center in Sollentuna.
“With Marguerite, we will be able to support our existing customers as well as new customers with future proof data center colocation, both in existing data centers as well as new developments,” added Björklund.
Marguerite invests in European infrastructure, and its current portfolio includes a number of energy projects across the EU as well as an airport company Fraport Greece; submarine cable firm EllaLink; fiber firms Rosace, Fibre 31, and Losange in France; Italian telecoms firm Irideos (formerly 2i Fiber); and a motorway in Spain.
Marguerite I is now fully invested, having committed over €700 million ($825m) since 2010. Formed in 2018, Marguerite II is a €745 million ($878.2m) pan-European infrastructure fund managed by Luxembourg based Marguerite Investment Management S.A.
Core investors in Marguerite funds include Poland’s state development bank BGK, French state investment firm Caisse des Dépôts et Consignations (Deposits and Consignments Fund), the European Investment Bank, Spanish lending institution Instituto de Crédito Oficial, as well as Italian and German investment banks Cassa Depositi e Prestiti and KfW.
The Conapto business has roots back in 1982, when it was founded as Backupcentralen, which Sungard Availability Services bought in 2002. Sungard AS sold off its Swedish subsidiary to Segulah in 2018, then sold off other data centers and went through bankruptcy in 2019.
“Conapto has been a very successful investment for Segulah Fund V and we are pleased with its transformation into the most sustainable premium colocation provider in Stockholm under the leadership of the management team,” said Percy Calissendorff, Partner at Segulah Advisor AB. “We are convinced that Marguerite as a new owner will be able to further develop Conapto’s strong position and support its continued expansion.”
